BRVM to enter the MSCI Frontier Markets Index
It was made possible by the BRVM's growth in capital and liquidity.The Regional Stock Exchange (BRVM) will enter this November the MSCI Frontier Markets Index, thus fulfilling one of the major objectives of its development plan.
The integration of the MSCI WAEMU Index into the MSCI Frontier Markets Index was made possible by the BRVM's growth in capital and liquidity over the last three years, said Morgan Stanley Capital International (MSCI) on May 12th.
"The integration of the BRVM into the Frontiers Markets is an important step for us. This is probably the result of our efforts to promote and develop our business in recent years, but it also reflects the confidence of regional and international investors in our market, which is supported by the strong economic growth of the WAEMU countries," said Kossi Edoh Amenounve, general manager of the BRVM, quoted by APA agency.
The West African stock exchange joins the club of "Frontier Markets" on the continent, which includes Nigeria, Kenya, Morocco, Mauritius and Tunisia.
All have established financial markets but their market capitalisation and liquidity remain too small to allow them to access the emerging markets category.